Tag: Sustainability Council of New Zealand

The Environment a Significant Casualty Under TPPA

Press Release – Sustainability Council of New Zealand Close scrutiny of the final TPPA text reveals that its impact on the environment is even worse than had been expected from leaked drafts.The Environment a Significant Casualty Under TPPA Close scrutiny of the final TPPA text reveals that its impact on the environment is even worse than had been expected from leaked drafts. A new paper, prepared by Simon Terry as part of a series supported by a New Zealand Law Foundation grant, concludes that the environment is a significant casualty under the TPPA. Analysis of the final text shows that the gains for the environment are few and small scale. By contrast, foreign investors can sue the Government for compensation if they believe new environmental protections will reduce their future profits, and this is a serious threat. When challenged on the need for such Investor State Dispute Settlement (ISDS) rules, ministers have repeatedly said that there would be no restraint on the government’s ability to regulate in the public interest. However, the text fails to protect the Government from being sued when taking such action. While there are provisions that protect governments from being sued for acting to reduce smoking, there are no similar protections against when it comes to the environment or climate change. The risk that a government could be successfully sued means the ISDS provisions will...

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TPP’s Benefits Less Than a Quarter of Government’s Claim

Press Release – Sustainability Council of New Zealand The TPPs economic benefits are less than a quarter of those the government has claimed – and the proposed trade deal would impose serious costs. The government has repeatedly used estimates from a team of US economists to justify the Trans Pacific …5 February 2014 TPP’s Benefits Less Than a Quarter of Government’s Claim The TPP’s economic benefits are less than a quarter of those the government has claimed – and the proposed trade deal would impose serious costs. The government has repeatedly used estimates from a team of US economists to justify the Trans Pacific Partnership. This team put the economic gains for New Zealand at US$4.5 billion for 2025 (around NZ$5.5 billion) in their latest study for the Peterson Institute. A detailed review of that study led by Dr Geoff Bertram concludes that a third of the stated benefits should not be counted at all as they are outside established economic theory. The Sustainability Council review also concludes that only a minor part of the remaining gains are justified. The total benefits likely to be available are less than a quarter of the US$4.1 billion of gains Trade Minister Tim Groser told Parliament would result for New Zealand from the TPP. * In exchange for a small gain in relative terms, New Zealand is being asked to sign away...

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TPP Negotiators on Notice to Protect Environment: Poll

Press Release – Sustainability Council of New Zealand An opinion poll shows a clear majority of New Zealanders reject the concept of foreign investors having any ability to sue the government offshore if is sets stronger environmental standards. TPP Negotiators on Notice to Protect Environment: Poll An opinion poll shows a clear majority of New Zealanders reject the concept of foreign investors having any ability to sue the government offshore if is sets stronger environmental standards. New Zealand is currently negotiating a free trade agreement with ten other countries called the Trans-Pacific Partnership (TPP). 61% of those surveyed believe that New Zealand should not sign the TPP agreement if it contains any clauses that allow foreign investors to sue the government in an offshore tribunal over new laws intended to protect the environment. Of those that have an opinion, six times as many favour standing aside from any deal that would impose these terms, versus those that would still sign up. The poll was conducted by Consumer Link for the Sustainability Council and indicates that just 9% of New Zealanders think securing this free trade agreement is important even if it could allow foreign investors to take such legal action against the government, while 30% have no opinion. The margin of error is 3.3%. A leaked draft of the TPP text reveals how overseas companies would have the right...

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